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Allianz Australia Insurance Ltd.
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Strategically important subsidiary of Allianz SE Conservative investment strategy Robust reinsurance arrangements Scale benefits as a major non-life insurer Sector exposed to increasing volatility of weather and natural disasters Increasing competition from direct and internet-based insurers The 'AA-' financial strength and counterparty credit ratings on Allianz Australia Insurance Ltd. (Allianz Australia) reflect our opinion of the strong support provided from the insurer's German-based parent, Allianz SE (AA/Stable/A-1+). Standard & Poor's Ratings Services considers Allianz Australia to be strategically important to Allianz SE. We consider the Australian operations to be an important part of the Allianz group's operations, being the fifth-largest nonlife business in the group. Moreover, Allianz Australia's activities are substantially integrated with its parent's in terms of polices, procedures,...
Companies mentioned in this report are: Allianz Australia Insurance Ltd.
Action: Review
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